UNWAVERING: BYU Cougars Stun Big 12 by REFUSING $30 Million RedBird Private Equity Deal – Here’s Why

Brigham Young University’s principled stand against debt is sending shockwaves through the Big 12’s financial playbook as RedBird Capital offers a game-changing $500 million private equity package. Jake Hatch and Drake Toll spotlight how the BYU Cougars’ deep-rooted commitment to fiscal discipline—anchored in the ethos of the Church of Jesus Christ of Latter-day Saints—has made them one of the first schools to reject the enticing, no-strings-now, pay-later $30 million cash infusion. With a long history of raising all funds before breaking ground and a mandate to oerate in the black from the main campus, the BYU Athletic Department has little use for high-interest loans, especially with aggressive boosters capable of filling any revenue gap overnight. But the real intrigue? Most of the Big 12 is following BYU’s lead. Programs like UCF and Houston, both on the verge of full conference revenue shares like BYU, are also passing on RedBird’s offer—even though the 10% interest rate is far from a payday loan scenario. The podcast explores why schools with major growth opportunities are letting this “free money” slip, pondering if boosters and cautious long-term planning outweigh the lure of instant upgrades. Yet, as Drake points out, schools cutting programs or facing financial crunches, such as Iowa State, face a different calculus. What happens if, in six months, financial desperation sets in? Does the one-year window to accept the deal keep options open for a sudden pivot? Driving the conversation to its most provocative point: what if only a single school—say, Iowa State—accepts the full $500 million? Could such an unprecedented influx instantly transform a program into a juggernaut, landing three straight College Football Playoff titles, outspending even Alabama and LSU, and reshaping the national landscape? Jake and Drake weigh the potential for a Big 12 dark horse to buy its way to glory, dissect the risks of high-stakes borrowing versus organic growth, and speculate on why a “flush with cash” approach remains so controversial. Get the insights, the hypotheticals, and the real-world numbers behind college athletics’ evolving relationship with private equity—before the next power shift rocks the sport. Support Locked On Cougars: Follow & Subscribe on all Podcast platforms and on YouTube! Join the NEW Locked On Cougars Everydayer Club by clicking here! If you never miss an episode, it’s time to make it official. Join the Locked On Everydayer Club and get ad-free audio, access to our members-only Discord, and more — all built for our most loyal fans. Click here to learn more and join your team’s community: https://lockedonpodcasts.com/everydayerclub Jake Hatch brings you daily coverage of the BYU Cougars with the Locked On Cougars Podcast. Locked On Cougars brings BYU fans the latest news and comprehensive coverage when it comes to the BYU football and basketball programs as well as a look at the other teams in the BYU athletic department. Jake gives you his unique insights and insider information about the Cougs as they continue "on the trail to fame and glory" every weekday, along with interviews with players, coaches, experts, and alumni that you will not find anywhere else. SUPPORT US BY SUPPORTING OUR SPONSORS FanDuel - Today's episode is brought to you by FanDuel.Right now new customers can bet just five dollars and get two-hundred and fifty dollars in bonus bets if your first bet wins.Visit https://FANDUEL.COM to get started — Play Your Game  Indeed - Listeners of this show get a $75 Sponsored Job Credit to help give your job the premium placement it deserves at http://Indeed.com/podcast Rocket Money - Let Rocket Money help you reach your financial goals faster. Join athttps://RocketMoney.com/LOCKEDON. Wayfair - Head to https://Wayfair.com right now to shop all things home. Wayfair. Every style. Every home FANDUEL DISCLAIMER: 21+ in select states. First online real money wager only. Bonus issued as nonwithdrawable free bets that expires in 14 days. Restrictions apply. See terms at sportsbook.fanduel.com. Gambling Problem? Call 1-800-GAMBLER or visit FanDuel.com/RG (CO, IA, MD, MI, NJ, PA, IL, VA, WV), 1-800-NEXT-STEP or text NEXTSTEP to 53342 (AZ), 1-888-789-7777 or visit ccpg.org/chat (CT), 1-800-9-WITH-IT (IN), 1-800-522-4700 (WY, KS) or visit ksgamblinghelp.com (KS), 1-877-770-STOP (LA), 1-877-8-HOPENY or text HOPENY (467369) (NY), TN REDLINE 1-800-889-9789 (TN) Follow the Locked On Cougars podcast on Facebook, Instagram and Twitter to stay up-to-date with the latest with regards to the podcast and BYU sports news. Please remember to subscribe, enable notifications, rate and review the show. If you are interested in advertising with Locked On Cougars or the Locked On Podcast Network, please email us at [email protected]. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.